BASIC Compliance Alert Maximum Annual HSA Contribution Increased to Provide Relief As your partner in business, we do our best to ensure that we are informing you on the latest pertinent legislative news that impacts the industry and your business and clients. Early this year the maximum family annual HSA contribution limit was reduced to […]
The Tax Cuts and Jobs Act, passed at the tail end of 2017, included a tax credit for employers that provide paid family and medical leave to their employees. After several months of uncertainty, the IRS has finally released some answers to their most frequently asked questions concerning the credit. There are several criteria both […]
The concept of employee engagement is complex because it manifests itself through employee attitudes and behaviors. You can’t manufacture engagement, but you can foster it with clear and strong leadership, engaging managers, trust, mutual respect, and integrity. Suppose you have two employees, Chris and Sam. Chris believes he’s paid a fair wage. He’s generally satisfied […]
How the Tip Credit Works The Fair Labor Standards Act says to pay tipped employees at least the federal minimum wage, which is $7.25 per hour. Per the act, you can pay tipped employees direct wages, with the required minimum being $2.13 per hour. Also, you can take a tip credit of up to $5.12 […]
The leave management landscape for 2018 is shifting, is your company ready? It is becoming increasingly difficult for employers to keep up and comply with the changing regulations. With additional laws coming into effect, each introducing a new complex state leave and paid leave structure, administering all applicable leaves to the correct federal standard is […]
On January 1st, 2018, the Department of Labor updated their rules affecting disability claims procedures for benefits based on the determination of disability. Although some may think these rules only apply to short-term disability and long-term disability plans, these rules actually have a much broader impact as they apply to any employee benefit plans subject […]
Taking the Mystery Out of the Rules About Pairing a High Deductible Health Plan With a Payment Account Like an HSA, HRA or FSA. Employers are looking to consumer-driven health plans to help control their health care costs and provide the best choices for their employees. The term “consumer-driven healthcare” (or CDH) describes more […]
On December 7, the 21st Century Cures Act was approved by Congress, and now needs only President Obama’s signature to go into effect on January 1, 2017. The Cures Act covers mainly medical research and innovations, but also includes a provision for a new flavor of an employer-sponsored Health Reimbursement Account. Enter the Qualified Small Employer Health Reimbursement […]
Health Reimbursement Arrangements (HRAs) are generally considered “minimum essential coverage” for which reporting is required under the new Affordable Care Act (ACA) reporting due the first quarter of 2016. However, certain HRAs are exempt from reporting under the most recent instructions for the reporting forms. There are two sets of reporting forms: The reporting forms for Section […]
The Affordable Care Act (ACA) requires employers to consider COBRA coverage in the new required reporting under Internal Revenue Code sections 6055 and 6056, beginning in the first quarter of 2016 to report coverage provided in 2015. The 6055 reporting applies to all employers offering group health coverage and requires that an information return (the […]
